BUSI 2204 Lecture Notes - Lecture 3: Marketing Myopia, Swot Analysis, Internal Communications
14 Dec 2017
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Document Summary
Mktg: chapter three (strategic planning for competitive advantage) A process of anticipating future events and determining strategies to achieve organizational objectives in the future. Issues related to when, where, how and against whom to compete. Strategic business unit (sbu) level, subgroup of a single business or a collection of related business within larger corporations. Business planning requires distinct mission and defined target market, control over resources and own competitors. A statement of the firms business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipating environmental conditions. Defining a business in terms of goods and services rather than in terms of benefits that customers seek. To set and organization strategy direction, businesses must thoroughly understand their current environment in which they will be operating. When examining external opportunities/threats, managers analyze aspects of marketing environment.
